New Mexico Educational Retirement Board decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 13.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,300 shares of the scientific and technical instruments company’s stock after selling 1,000 shares during the period. New Mexico Educational Retirement Board’s holdings in Teledyne Technologies were worth $1,725,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Cerebellum GP LLC acquired a new position in shares of Teledyne Technologies in the 2nd quarter valued at $254,000. BTC Capital Management Inc. acquired a new position in shares of Teledyne Technologies in the 2nd quarter valued at $2,703,000. Arizona State Retirement System raised its stake in shares of Teledyne Technologies by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 26,299 shares of the scientific and technical instruments company’s stock valued at $7,203,000 after buying an additional 299 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Teledyne Technologies during the 1st quarter worth about $235,000. Finally, Scout Investments Inc. increased its position in shares of Teledyne Technologies by 44.4% during the 2nd quarter. Scout Investments Inc. now owns 52,655 shares of the scientific and technical instruments company’s stock worth $14,421,000 after purchasing an additional 16,183 shares in the last quarter. Institutional investors own 83.73% of the company’s stock.
In other Teledyne Technologies news, EVP Jason Vanwees sold 9,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $254.64, for a total transaction of $2,291,760.00. Following the sale, the executive vice president now owns 41,349 shares of the company’s stock, valued at approximately $10,529,109.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Simon M. Lorne sold 248 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $295.47, for a total transaction of $73,276.56. Following the sale, the director now directly owns 31,271 shares in the company, valued at approximately $9,239,642.37. The disclosure for this sale can be found here. Insiders have sold a total of 28,610 shares of company stock valued at $7,770,352 in the last quarter. 3.19% of the stock is currently owned by corporate insiders.
Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.40. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $781.55 million. Teledyne Technologies had a net margin of 12.04% and a return on equity of 15.09%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $2.32 EPS. On average, research analysts predict that Teledyne Technologies Incorporated will post 9.95 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the stock. Cowen increased their target price on shares of Teledyne Technologies from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Berenberg Bank assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, June 11th. They set a “buy” rating and a $290.00 target price for the company. Needham & Company LLC increased their target price on shares of Teledyne Technologies from $275.00 to $328.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, ValuEngine cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $293.75.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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